China Prosper Fintech Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 12065213 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 June 2021

for

China Prosper Fintech Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

H D White

A Z Sheikh

REGISTERED OFFICE:

2nd Floor

369-371 Kennington House

London

SE11 5QY

REGISTERED NUMBER:

12065213 (England and Wales)

ACCOUNTANTS:

NSO Associates LLP

75 Springfield Road

Chelmsford

Essex

CM2 6JB

FIXED ASSETS

-

Investments

4

25,000

CURRENT ASSETS

-

Debtors

5

267,100

100

Cash at bank

2,228

100

269,328

CREDITORS

-

Amounts falling due within one year

6

381,620

100

NET CURRENT (LIABILITIES)/ASSETS

(112,292

)

100

TOTAL ASSETS LESS CURRENT LIABILITIES

(87,292

)

CAPITAL AND RESERVES

100

Called up share capital

100

-

Retained earnings

(87,392

)

100

SHAREHOLDERS' FUNDS

(87,292

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 March 2022 and were signed on its behalf by:

H D White - Director

1.	STATUTORY INFORMATION

China Prosper Fintech Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

4.	FIXED ASSET INVESTMENTS

During the year the company paid £25,000 for an option to acquire shares in Smarter Mobile Finance Limited. The option was exercised after the year end.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.21

30.6.20

£

£

Other debtors

267,100

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.21

30.6.20

£

£

Other creditors

381,620

-

7.	POST BALANCE SHEET EVENTS

There are no post balance sheet events that need to be brought to creditors attention.

8.	GOING CONCERN

At 30th June 2021 the company had a net deficiency of assets of £87,392 The directors' undertake to support the company financially until the situation has been fully redressed. It is therefore deemed appropriate to prepare the financial statements on the going concern basis.